Week In Review: Week's China Life Science Deals Total $795 Million

Deals and Financings

Asymchem Laboratories (Tianjin) (SHZ: OO2821) completed a $125 million IPO in Shenzhen (see story). Asymchem is contract manufacturer of APIs, cGMP intermediates and finished drugs, all from its manufacturing facilities in China. Most of the proceeds will be used to build its R&D facilities and additional manufacturing facilities in Tianjin, which is also the company's headquarters. 

BeyondSpring Pharma, a virtual US-China company, filed to stage a $100 million IPO on the Nasdaq exchange (see story). The company's business plan calls for integrating US and China clinical resources, making adept use of both to reduce cost and time. The company focuses on cancer-related therapies and plans to market them in the US and China. BeyondSpring will advance plinabulin as a treatment for neutropenia, and it is also testing the molecule, alone and as an adjunct to existing therapies, as a direct acting therapeutic for several forms of cancer. 

SciClone Pharma (NSDQ: SCLN), a San Francisco-area company that markets drugs in China, received an unsolicited $570 million acquisition offer (see story). The offering group, which does not seem to include SciClone's management, is GL Capital Management GP Limited and ABG Management Limited. Both entities are allied with Ally Bridge Group, a Hong Kong-based VC/PE firm. The investor consortium offered $11.18 per share to acquire SciClone, which was 13% higher than the previous day's closing price. SciClone's management did not embrace the offer and didn't comment, except to say it would consider the offer carefully, pointing out that the consideration was their duty. 

Uni-Bio Science (HK: 0690) of Hong Kong and Luqa Pharma, a China dermatology and aesthetics company, formed a partnership to co-market their respective dermatology drugs/devices in China (see story). The three-year agreement includes currently approved and future dermatology products. Both companies market wound healing treatments in China, and both have existing marketing teams. Uni-Bio promotes GeneSoft, an in-licensed ophthalmic wound healing product, in China, and Luqa is responsible for marketing Stratpharma's Strataderm to treat scars and Laluxid for wound healing. 

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